KARACHI: The fabric enterprise on Thursday rejected Adviser to the high Minister on Finance Dr Hafeez Sheikh’s declaration that domestic sales of textiles quantities up to Rs1,2 hundred billion in line with annum.
talking on the Pakistan Hosiery manufacturing association on Thursday Jawed Bilwani, Zubair Motiwala, Naqi Bari, Rafiq Godial and Shabir Ahmed challenged the finance adviser and asked him to provide you with plausible calculations that could substantiate his figures.
The enterprise leaders said that if they take the quantity of Rs1,200bn as home sale of textiles and divide it with the population of 220 million, it'd mean that each Pakistani should spend Rs5,455 yearly on clothing.
They further stated with average price of textile clothing at Rs700 each, a Pakistani should buy 8 fits according to annum from the amount of Rs5,455. How is it viable that every Pakistani (along with kids) should purchase 8 fits yearly where 50 in step with cent of population is beneath poverty line, they wondered.
They alleged that the PM’s adviser has come up with this figure most effective to justify the withdrawal of zero-rated facility allowed to export region.
The leaders claimed that local sales of textiles come to around 15-20pc while export of different sectors comes within the range of two-5pc.
published in sunrise, June 14th, 2019